Is it true that Management can be defined as a decision-making process aimed at determining and achieving specific objectives through the proper use of financial, human, organizational resources individually or collectively taking into account the environment ?
Dear Adel
My opinion is yes.
Decision making is the mental process of choosing from a set of alternatives. Every decision-making process produces an outcome that might be an action, a recommendation, or an opinion. Since doing nothing or remaining neutral is usually among the set of options one chooses from, selecting that course is also making a decision.Difference Between Problem Analysis and Decision Making
While they are related, problem analysis and decision making are distinct activities. Decisions are commonly focused on a problem or challenge. Decision makers must gather and consider data before making a choice. Problem analysis involves framing the issue by defining its boundaries, establishing criteria with which to select from alternatives, and developing conclusions based on available information. Analyzing a problem may not result in a decision, although the results are an important ingredient in all decision making.
Steps in Decision Making
Decision making comprises a series of sequential activities that together structure the process and facilitate its conclusion. These steps are:
Establishing objectives
Classifying and prioritizing objectives
Developing selection criteria
Identifying alternatives
Evaluating alternatives against the selection criteria
Choosing the alternative that best satisfies the selection criteria
Implementing the decision.
Thanks
Dear Adel
My opinion is yes.
Decision making is the mental process of choosing from a set of alternatives. Every decision-making process produces an outcome that might be an action, a recommendation, or an opinion. Since doing nothing or remaining neutral is usually among the set of options one chooses from, selecting that course is also making a decision.Difference Between Problem Analysis and Decision Making
While they are related, problem analysis and decision making are distinct activities. Decisions are commonly focused on a problem or challenge. Decision makers must gather and consider data before making a choice. Problem analysis involves framing the issue by defining its boundaries, establishing criteria with which to select from alternatives, and developing conclusions based on available information. Analyzing a problem may not result in a decision, although the results are an important ingredient in all decision making.
Steps in Decision Making
Decision making comprises a series of sequential activities that together structure the process and facilitate its conclusion. These steps are:
Establishing objectives
Classifying and prioritizing objectives
Developing selection criteria
Identifying alternatives
Evaluating alternatives against the selection criteria
Choosing the alternative that best satisfies the selection criteria
Implementing the decision.
Thanks
Decision-making is an essential aspect of modern management. It is a primary function of management. It is rightly said that the first important function of management is to take decisions on problems and situations. Decision-making pervades all managerial actions. It is a continuous process. Decision-making is an indispensable component of the management process itself .
Management is the professional conversion of human knowledge into social and economic value: since the 20th century, it has become an universal function of modern human society. This applies to the non-profit and to the profit sector of societal activities; managerial skills and studies have become essential for many diverse institutions (e.g. hospitals, schools, orchestras, sport clubs, political parties...,and of course, business corporations). Decision science and strategy are definitely subcomponents of the managerial profession, i.e. belong to the core competencies.
Most of the researchers are affirmative on the issue.Therefore considering it in broader sense it can be concluded that without decision making,management stands no where
Let us invite opinions of more researchers.
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